As I have previously said pyc is close to bankruptcy! Unfortunately Obelix you are going to lose a lot of money. They are trying to raise almost as much as the company is valued and over 3 times their annual revenue. No news of diatech no revenue projections The company is a joke as is sareum
Blimey can't imagine how much you have invested with 44 million shares!!! Heartbreaking and nobody likes to see people lose money!
Word of caution...I was invested in Beacon hill resources who wanted to do the same as pyc. A so called investor action group was formed who persuaded enough people to vote NO! The company went into bankruptcy and everyone lost everything.
Notice of AGM. Guys, I recieved the letter today about Resolution: Special Resolution 5 - (B) otherwise than pursuant to sub-paragraph (a) above to up an aggregate nominal amount of £990.000 and shall expire on the conclusion of the next AGM meeting of the Company.
So, more dilution for us. GREAT LETTER Dr. Harper.
I mention before (last week) about new funds. They will rise £900k next year, may be will be follow acquisition that they mention before. My holdings here still the same, and I vote against some Resolution and my vote was against:
Dr. Harper More Shares & dilution
At the moment I hold 44 millions shares here, but I'm not sure if my vote will make any difference.
Guys, please if you have a chance to vote PLEASE VOTE AGAINST
The only hope I am clinging to, is the fact that 75% of these shares are held by big institutions. (See Ralphiebabe entry on 11th November). They would have been in discussions with them before making this decision. The reason for the change is disappointing, they have to do it because the ordinary share price has been breached. This price is initially set very very low, and in theory should never be reached, but we have come very close to it and so they have to lower it even more. I would have thought they would sort the number of shares out while they were at it, divide by 100 at least. The number of shares would then reduce to 25,000,000 which is more realistic.
I am certain this is a precursor to a fund raising is a massive dilutions but don't mind because the acquisition of encology assets will happen sooner . They will bring to clinical trail that can bring our investment back to huge profits with experience of our scientists and Pyc tool this will happen in a future. So is better the shareholders supporting the resolution. Gla
The company needs supporting otherwise our investments are worthless and any IP would be sold on to others as part of the liquidation of the company so there is no point in not supporting the motions to be put to shareholders at the next proposed meeting. Investing in biotech is a risk which we all take when investing here on AIM it is however very frustrating.
Support the company and we at least have a chance.
yet further damning evidence, imo, of the inept and incompetent management claiming to run this operation! Their hope being presumably, that shareholders will endorse the recommended proposal put forward by the BOD and in so doing, ensure that the 'gravy train' continues to flow! However, if, by chance the proposed resolutions are rejected by shareholders, then I expect the BOD to counter this by informing shareholder that, in their opinion, the Cos will be unable to continue to trade as a fiscally solvent entity and should this prove to be the case, then my question to which I would be extremely grateful of a response is, what happens to 'our' i.e. the shareholders bought and paid for Intellectual Property Rights in respect of all of that which we have funded and therefore 'own' to date?
p.s. whatever happened to the income from the myriad of contract wins Chadwick i.e. the monetary amounts which you, along with your fellow BOD never chose to disclose to shareholders? Oh, and whilst we're on the subject, what happened to the 'deal' to which you alluded to via your last rns and finally, why, did you and your fellow BOD members knowing full-well of your stated intention to release today's rns, did you chose to do so at such a late hour on a Friday afternoon? - extremely amateurish at best imo!
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